Published on 8/29/2018 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $3.13 million jump autocalls due 2022 tied to index, funds
By Wendy Van Sickle
Columbus, Ohio, Aug. 29 – Morgan Stanley Finance LLC priced $3.13 million of 0% jump notes with autocallable feature due Aug. 31, 2022 linked to the least performing of the Stoxx Europe 600 Banks index, the SPDR S&P Oil & Gas Exploration & Production ETF and the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annual call premium of 13.7% if each underlying component closes at or above its initial level on any annual determination date after one year.
If each underlying component finishes at or above 60% of its initial level, the payout will be $1,548 per $1,000 of notes.
Otherwise, investors will be fully exposed to any losses of the worst performing component.
The notes will be guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Jump securities with autocallable feature
|
| Underlying assets: | Stoxx Europe 600 Banks index, SPDR S&P Oil & Gas Exploration & Production ETF and iShares MSCI Emerging Markets ETF
|
| Amount: | $3,134,000
|
| Maturity: | Aug. 31, 2022
|
| Coupon: | 0%
|
| Price: | Par of $1,000
|
| Payout at maturity: | If each asset gains, stays flat or falls by up to 40%, par plus 54.8%; otherwise, par plus return of least-performing asset with 1% loss per 1% decline
|
| Call: | At par plus annualized premium of 13.7% if each asset closes at or above initial level on any annual review date after one year
|
| Initial levels: | 157.0 for index, $42.05 for oil and gas ETF, $43.37 for emerging markets ETF
|
| Downside thresholds: | 94.2 for index, $25.23 for oil and gas ETF, $26.022 for emerging markets ETF; 60% of initial levels
|
| Pricing date: | Aug. 24
|
| Settlement date: | Aug. 31
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.4%
|
| Cusip: | 61768DCW3
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
